Your retirement account the day you retire

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Reference no: EM131491470

You and your wife are making plans for retirement. You plan on living 25 years after you retire and would like to have $100,000 annually on which to live. Your first withdrawal will be made one year after you retire and you anticipate that your retirement account will earn 10% annually. What amount do you need in your retirement account the day you retire? Round your answer to the nearest cent. Do not round intermediate calculations.

Reference no: EM131491470

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